For a retail body corporate AFSL, the fee will be $3,721 for a ‘low complexity’ application and $7,537 for a ‘high complexity’ licence.

The consultation paper will see hikes in nearly every fee advisers pay. Currently it costs an adviser only $39 to request a voluntary suspension of an AFSL, but that is set to jump to $899 under ASIC’s proposal.

Commenting on the proposed changes, ASIC commissioner John Price said, “The current fees for these activities do not reflect their actual cost and the government is seeking input from industry on changes to address this.”

Advisers and other interested parties have until 15 December 2017 to lodge a submission on the consultation paper.